I am using TurboTax for Business to file a business return for an S-Corporation. I am attempting to file electronically and TurboTax claims that there are (3) errors in the return that are preventing me from filing the return:Form 1120S Line 23B is zero. I have no capital gains and Schedule D is blank, but it is flagging that as an error.Additional Taxes Smart Worksheet Line A Recapture of Investment Credit - also zero. I have never claimed an investment tax credit and form 4255 is blank, but it is flagging that as an error.Form 1120S Business Code - TurboTax is claiming that my business code is invalid, but this is the same code I've used for years that was copied from last year's return.I don't believe that these are actual errors. I suspect that these are bugs in TurboTax. How do I get rid of these errors?

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Question

Resolving Errors

Forum|Forum|2 years ago
March 3, 2024
1 reply
5 views

I am using TurboTax for Business to file a business return for an S-Corporation. I am attempting to file electronically and TurboTax claims that there are (3) errors in the return that are preventing me from filing the return:

Form 1120S Line 23B is zero. I have no capital gains and Schedule D is blank, but it is flagging that as an error.
Additional Taxes Smart Worksheet Line A Recapture of Investment Credit - also zero. I have never claimed an investment tax credit and form 4255 is blank, but it is flagging that as an error.
Form 1120S Business Code - TurboTax is claiming that my business code is invalid, but this is the same code I've used for years that was copied from last year's return.

I don't believe that these are actual errors. I suspect that these are bugs in TurboTax. How do I get rid of these errors?

TurboTax Business Windows

CatinaT1

Level 15

Are you still experiencing this problem? What state are you filing in or are you just doing a federal return?

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chuck3Author

Level 4

Yes, I’m still having that problem, it’s preventing me from filing my return, and I have installed all the latest upgrades as of yesterday. I am only filing a federal return (no state). I’m convinced that it must be a bug in TurboTax to declare that I have an error in capital gains and investment tax credits when I have no capital gains or investment tax credits and both entries that are flagged as an error are zero.